While Dycom Industries, Inc has overperformed by 0.76%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DY rose by 64.47%, with highs and lows ranging from $207.20 to $107.53, whereas the simple moving average jumped by 6.11% in the last 200 days.
On March 08, 2024, B. Riley Securities Upgraded Dycom Industries, Inc (NYSE: DY) to Buy. A report published by KeyBanc Capital Markets on January 10, 2024, Initiated its previous ‘Overweight’ rating for DY. Raymond James also Upgraded DY shares as ‘Strong Buy’, setting a target price of $120 on the company’s shares in a report dated October 20, 2023. BofA Securities Initiated an Buy rating on October 03, 2023, and assigned a price target of $120. B. Riley Securities July 26, 2023d its ‘Buy’ rating to ‘Neutral’ for DY, as published in its report on July 26, 2023. Raymond James’s report from June 01, 2023 suggests a price prediction of $120 for DY shares, giving the stock a ‘Outperform’ rating. Wells Fargo also rated the stock as ‘Overweight’.
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Analysis of Dycom Industries, Inc (DY)
Further, the quarter-over-quarter increase in sales is 11.96%, showing a positive trend in the upcoming months.
Dycom Industries, Inc’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of 19.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.93, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and DY is registering an average volume of 397.83K. On a monthly basis, the volatility of the stock is set at 4.27%, whereas on a weekly basis, it is put at 3.89%, with a loss of -7.02% over the past seven days. Furthermore, long-term investors anticipate a median target price of $219.44, showing growth from the present price of $180.56, which can serve as yet another indication of whether DY is worth investing in or should be passed over.
How Do You Analyze Dycom Industries, Inc Shares?
A giant in the Engineering & Construction market, Dycom Industries, Inc (DY) is based in the USA. When comparing Dycom Industries, Inc shares with other companies under Industrials, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 23.77, there is a growth in quarterly earnings of -16.07%.
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.71%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 95.36% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
DY shares are owned by institutional investors to the tune of 95.36% at present.
